FXY vs. SCHD
FXY (Invesco CurrencyShares® Japanese Yen Trust) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - FXY is a Currency fund tracking the Japanese Yen, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, FXY returned -4.95%/yr vs 12.76%/yr for SCHD. Their -0.15 correlation means they have often moved in opposite directions in the past. FXY charges 0.40%/yr vs 0.06%/yr for SCHD.
Performance
FXY vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, FXY achieves a -1.72% return, which is significantly lower than SCHD's 24.03% return. Over the past 10 years, FXY has underperformed SCHD with an annualized return of -4.95%, while SCHD has yielded a comparatively higher 12.76% annualized return.
FXY
- 1D
- 0.14%
- 1M
- 1.25%
- 6M
- -2.96%
- YTD
- -1.72%
- 1Y
- -7.64%
- 3Y*
- -3.84%
- 5Y*
- -7.64%
- 10Y*
- -4.95%
- ALL TIME*
- -1.82%
SCHD
- 1D
- 0.18%
- 1M
- 3.33%
- 6M
- 14.09%
- YTD
- 24.03%
- 1Y
- 31.54%
- 3Y*
- 14.19%
- 5Y*
- 9.54%
- 10Y*
- 12.76%
- ALL TIME*
- 13.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.81M | $16.82M | $12.69M | |
| $786.88M | $715.86M | $685.58M |
FXY vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | -1.72% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
SCHD Schwab U.S. Dividend Equity ETF | 24.03% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 20.85% |
Correlation
The correlation between FXY and SCHD is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | -0.15 |
The correlation between FXY and SCHD shifts across timeframes, from -0.15 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXY vs. SCHD — Risk / Return Rank
FXY
SCHD
FXY vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) and Schwab U.S. Dividend Equity ETF (SCHD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FXY | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.49 | ||
| Sortino ratioReturn per unit of downside risk | -5.40 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.51 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 6.74 | -7.25 |
| Martin ratioReturn relative to average drawdown | -0.84 | 17.01 | -17.85 |
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Drawdowns
FXY vs. SCHD - Drawdown Comparison
The maximum FXY drawdown since its inception was -56.95%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for FXY and SCHD.
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Drawdown Indicators
| FXY | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.95% | -33.37% | -23.58% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -4.61% | -6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.91% | -16.13% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -34.99% | -16.85% | -18.14% |
Max Drawdown (10Y)Largest decline over 10 years | -42.08% | -33.37% | -8.71% |
Current DrawdownCurrent decline from peak | -55.68% | -1.24% | -54.44% |
Average DrawdownAverage peak-to-trough decline | -27.96% | -3.30% | -24.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 1.82% | +4.85% |
Volatility
FXY vs. SCHD - Volatility Comparison
The current volatility for Invesco CurrencyShares® Japanese Yen Trust (FXY) is 3.00%, while Schwab U.S. Dividend Equity ETF (SCHD) has a volatility of 4.11%. This indicates that FXY experiences smaller price fluctuations and is considered to be less risky than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXY | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 4.11% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 8.11% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.30% | 11.13% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.29% | 14.39% | -4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 16.72% | -7.59% |
FXY vs. SCHD - Expense Ratio Comparison
FXY has a 0.40% expense ratio, which is higher than SCHD's 0.06% expense ratio.
Dividends
FXY vs. SCHD - Dividend Comparison
FXY has not paid dividends to shareholders, while SCHD's dividend yield for the trailing twelve months is around 3.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCHD Schwab U.S. Dividend Equity ETF | 3.13% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
FXY and SCHD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHD has higher volatility (4.11%) compared to FXY (3.00%). In terms of maximum drawdown, FXY dropped -56.95% vs SCHD's -33.37%.
On 10-year performance, SCHD leads with 12.76% vs -4.95% for FXY. On fees, SCHD is cheaper at 0.06% per year. On volatility, FXY has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHD has performed better with a 12.76% return vs -4.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.40% for FXY.
SCHD has the higher dividend yield at 3.13%, compared with 0.00% for FXY.
FXY is categorized as Currency, while SCHD is Dividend. FXY tracks Japanese Yen, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.40% for FXY and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.81 vs -0.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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